WILSONVILLE, OR – Mentor Graphics reported fiscal second-quarter revenue ended July 31 of $240.8 million, up 12.7% year-over-year.

Net income for the period was $17.6 million, an increase of 309% compared to the same quarter last year.

During the period, the company continued its share buy-back, repurchasing 1.4 million shares for $20 million. Since the first fiscal quarter, the company has repurchased 8.2 million shares for $110 million.

“Revenues and earnings were an all-time record for a second quarter, and bookings were at the second highest level for any second quarter in company history,” said Walden C. Rhines, chairman and CEO of Mentor Graphics. “Like the whole electronic design automation industry, Mentor is benefiting from the transition to 20nm and 28nm, which is driving significant design activity and resultant software demand. We are on track for record revenue and earnings for fiscal year 2013.”

For the first six months of the fiscal year, Mentor reported revenue of $488.7 million, up 10% year-over-year.

Net income for the six-month period was $45 million, up from $1.98 million the prior year.

Mentor guided for third quarter revenue of $265 million, up 6% over fiscal 2012. For full fiscal year 2013, the company expects revenues of about $1.1 billion.